16th May - Crypto Price Analysis
Bitcoin for the past three days reached a high of $9,941.68 on May 14, unable to break resistance near $ 10,000 as the bears were unwilling to allow the bulls.
Bulls continue to buy the dips, which is a positive sign and suggest bulls having upper hand.
The pair can consolidate between $9,200-$10,000 levels for a few days and might rally toward $ 10,600.
Bearish below below $9,200 and can fall to $ 8851.
There will be change in trend break below $8,130.58.
Traders watch out bearish divergence in RSI.
Bullish above $ 196 a rally to $227.097 is possible and could present a buying opportunity for traders.
Bearish below $ 196 and a drop to $176.103 is likely.
Below $ 176 there will be change in trend after a break in level.
Bearish if price turns down from the current levels and breaks below $ 0.19 , a drop to $0.17372 is likely.
Bullish above $ 0.20 a rally to $0.23612 is likely.
Traders can wait on the sidelines until the bulls are back in command.
Bitcoin Cash facing resistance at $243 and price turns down from this level, the bears will attempt to sink the price to $200.
Bullish above the $ 243 and rally to $280.47.
Trend can be decided on a breakout of $280.47 or on a break below $200.
The pair is likely to remain range-bound for few days.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update email@example.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326